Heritage Financial (NASDAQ:HFWA) Posts Earnings Results, Beats Expectations By $0.06 EPS

Heritage Financial (NASDAQ:HFWA) announced its quarterly earnings data on Thursday. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06, Zacks reports. Heritage Financial had a net margin of 12.27% and a return on equity of 7.01%.

Heritage Financial Trading Up 1.0 %

NASDAQ:HFWA opened at $24.85 on Friday. The company has a fifty day moving average of $25.13 and a 200 day moving average of $23.15. Heritage Financial has a 52 week low of $16.55 and a 52 week high of $27.58. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $848.63 million, a P/E ratio of 23.01 and a beta of 0.57.

Insider Activity at Heritage Financial

In related news, EVP Tony Chalfant sold 2,975 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.50, for a total transaction of $78,837.50. Following the completion of the sale, the executive vice president now directly owns 20,119 shares in the company, valued at $533,153.50. This represents a 12.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HFWA. Piper Sandler upped their price objective on shares of Heritage Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Stephens upped their price objective on shares of Heritage Financial from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Heritage Financial currently has an average rating of “Hold” and an average price target of $25.00.

Heritage Financial Company Profile

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States. It accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.